MoneyTime

MoneyTime’s CEO, Neil Edmond (forth from the left), recently joined the leaders of various financial literacy programs to attend a roundtable meeting hosted by Andrew Bayly, the Minister of Commerce (on left). The meeting was to discuss how financial literacy in schools can increase the financial capability of New Zealand’s youth. Of particular interest was how financial literacy is going to be treated in the current curriculum refresh. A financial math strand has been added to the Math curriculum draft, however the most likely learning area to incorporate personal finance is Social Studies. More will be revealed next year once the literacy and numeracy refreshes have been implemented.

🚨NEWS FLASH 🚨 You may only be considering the tip of the iceberg when educating yourself and others on financial topics. This #InternationalLiteracyDay, we’re focusing on additional areas such as job hunting, resumes, cybersecurity and debt management with MoneyTime. Find out what valuable money knowledge you might be missing out on here: https://bit.ly/4d1NzfP Member FDIC.

Personal finance folks collaborating across our nominal professional borders is one of the reasons I was keen to get the FinCap Co·Op going as my first project with Maslow®. ...and our first collab project is well underway! Here's the Miro board where contributors have been adding their thoughts (and kindly rearranging my scattergun start to something much more logical, thank you Tracey West PhD 🤩 ) We're mapping the financial education ecosystem in Australia and all the players involved. We'll use that to can create a tool consumers can use to find the finance folks/organisations best suited to their needs. ------------ Why do we need this? Here's my personal motivation: >> Because people in financial distress contact Money School asking what to do, and most haven't heard of financial counselling. This sucks. Every Aussie should know financial counselling exists, it's free, and the counsellors can help you with everything from debt management to budgeting. They're my fave folks in the finance ecosystem (don't tell the others, FCs!) I always direct such queries to National Debt Helpline's 'Find a financial counsellor' page and phone service ...but how many people out there AREN'T emailing me, and therefore remain in the dark - and financially stressed? >> Because teachers ask me how to get more financial education into their school, and they haven't heard of Talk Money with Ecstra Foundation. This also sucks. Talk Money is a free program run by an independent organisation (i.e. not a bank or any other kind of seller of financial products) that has reached over 200,000 Australian school students already. They go where they're invited, so you have to know to invite them. Teachers ought to be able to find Talk Money - and the plethora of independent education tools out there like MoneyTime - without needing to ask me. ------------ The power of collaboration across all the disciplines and organisations that make up the financial education sphere is creating tools like the above that are comprehensive and thorough, taking all points of view into account. In short: we'll make a better tool for consumers because everyone's invited to contribute. If you're in financial education in any way, shape or form in Australia and you'd like to join collaborations like this, please head to our signup form (https://lnkd.in/gSANJMgB) and then sign up to our Discourse platform when we send you the invite. Other projects in the pipeline: >> A contact list for journalists and producers looking for personal finance comment. >> A contact list for event organisers looking for personal finance speakers. >> A public list of personal finance books and podcasts. ...and I will be launching a systems thinking project next year when I'm back from overseas. The FinCap Co·Op will be learning how causal loop diagrams (CLDs) work, then we'll be using that tool to visualise why financial literacy rates aren't improving in Australia. Stay tuned!

FINANCIAL LITERACY - ROUND TABLE Recently attended a discussion with Minister Bayly about Financial Literacy in Schools! Good starting korero with the Minister and other Financial Education providers in the sector from Ministry of Education New Zealand, Banqer, MoneyTime, ASB Bank, Te Ara Ahunga Ora Retirement Commission, Westpac New Zealand, Life Education Trust NZ, Young Enterprise Always nice seeing familiar faces Kendall Flutey & Jane Wrightson 😊 Watch this Space! Andrew Bayly | Mark Graham | Alexandra Bullot | John O'Connell | Neil Edmond

Thank you Branka Injac Misic for your shoutout and support! It means so much to us that our program is teaching valuable lessons to your son! 🚀

Thanks to Newsroom NZ for making space for my thoughts on financial literacy – a cause very dear to me and all of us at the Milford Foundation. We’ve seen firsthand the value of organisations such as MoneyTime which has achieved a consistent 44 per cent improvement in financial knowledge amongst students year-on-year. That, in my view, is exceptional. It’s one of the reasons why ImpactLab recently evaluated MoneyTime’s social return on investment as $7.70 for every $1 invested - Bryce Marsden, Chief Executive the Milford Foundation.

That's a wrap for the Association of Heads of Independent Schools of Australia Conference 2024. Thanks for hosting our first ever exhibit. It was great to be able to meet all the education delegates and get validation about our positive impact in #education. We look forward to meeting you all again! Thanks to all our fellow exhibitors who shared all their learnings with us newbies. It was great meeting you all. Woods Furniture Pty Ltd Banqer anzuk Executive MAPIEN Australian Taxation Office MoneyTime NGS Super Compass Education SchoolTV Marathon Modular @advancedlife

One of my first GoodMeasure's with Daniel Bosson as project lead and the team at ImpactLab- especially Sophie Kunze has gone live! It was such a pleasure to work with the team at MoneyTime and Milford on this research and GM process. I found the below reflections from MoneyTime particularly valuable to reflect on the outcomes of our work: What did you learn? "We learned our SROI is $7.70 for every $1.00 spent. This is validation for our sponsors and shareholders that we are being very efficient in creating positive impact for NZ kids. The report also confirmed that our engagement rate is particularly high for an educational resource." How did the work impact your organisation? "As a team we are proud to have it confirmed independently that our work generates a measurable social impact. On an operational level the discussion around what constitutes meaningful engagement motivated us to develop more detailed reporting on each student’s progress." #sroi #impactevaluation https://lnkd.in/gvZBvNKs

Last year, our cornerstone sponsor for schools across New Zealand, the Milford Foundation, commissioned a GoodMeasure report from ImpactLab for MoneyTime. The key findings were: Social Value of the MoneyTime program: $1,055,843 per annum Considering MoneyTime’s operating costs, every $1 invested in MoneyTime resulted in $7.70 returned to New Zealand. This is considered exceptional and is above the average SROI of $1: $2 achieved by other companies ImpactLab has measured. 🚀 ---------- Social value is the social impact in dollar terms, representing the lifetime social impact a program delivers to participants. GoodMeasure supports organizations with information they can act on to grow their social impact through investment. Through GoodMeasure, ImpactLab validates our social value using methods that draw on publicly available data, academic research and our own data, to estimate social value and a social return on investment (SROI). They measure the impact on an individual’s wellbeing from the programme in terms of positive benefits (like increased income) and avoided costs to the government. The social value calculation incorporates global literature evidence, the size of the opportunity for the people an organization serves to achieve more positive outcomes & the number of people supported, offering insights into how a program positively transforms lives. This social value is then combined with cost information to determine a program's social return on investment (SROI).

Unveiling the true cost of financial ignorance: Dive into this insightful article by PR Newswire revealing how Americans are losing over $1,500 on average due to a lack of financial knowledge. #FinancialLiteracy #FinancialKnowledge